Zacks Investment Research upgraded shares of CVB Financial (NASDAQ:CVBF) from a sell rating to a hold rating in a research note issued to investors on Monday morning, Zacks.com reports.

According to Zacks, “CVB Financial Corp. is a bank holding company. CVB’s principal business is to serve as a holding company for the Bank, Community, Ventures, and for other banking or banking related subsidiaries which the Company may establish or acquire. Through its network of banking offices, the Bank emphasizes personalized service combined with offering a full range of banking and trust services to businesses, professionals and individuals located in the service areas of its offices. “

Other analysts have also recently issued research reports about the company. FIG Partners restated an outperform rating on shares of SmartFinancial in a report on Thursday, April 25th. BidaskClub cut Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $24.90.

Shares of CVBF stock opened at $20.84 on Monday. The business’s fifty day simple moving average is $21.06. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2.91 billion, a PE ratio of 16.81, a PEG ratio of 1.50 and a beta of 1.08. CVB Financial has a 52 week low of $19.21 and a 52 week high of $24.97.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. The company had revenue of $125.84 million for the quarter, compared to analysts’ expectations of $121.24 million. CVB Financial had a return on equity of 10.16% and a net margin of 37.39%. During the same quarter in the prior year, the business earned $0.32 earnings per share. Equities research analysts forecast that CVB Financial will post 1.48 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 3rd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.45%. The ex-dividend date is Tuesday, July 2nd. CVB Financial’s dividend payout ratio is 58.06%.

In related news, Director Anna Kan sold 4,660 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $21.74, for a total value of $101,308.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher D. Myers sold 24,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $21.79, for a total value of $522,960.00. Following the completion of the transaction, the chief executive officer now owns 300,157 shares in the company, valued at approximately $6,540,421.03. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,660 shares of company stock worth $3,228,758. 5.50% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Ellis Investment Partners LLC bought a new position in CVB Financial in the first quarter valued at about $56,000. PNC Financial Services Group Inc. lifted its stake in CVB Financial by 21.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,390 shares of the financial services provider’s stock valued at $69,000 after buying an additional 601 shares during the period. Everence Capital Management Inc. acquired a new position in CVB Financial in the first quarter valued at about $290,000. Sciencast Management LP acquired a new position in CVB Financial in the first quarter valued at about $378,000. Finally, Piedmont Investment Advisors Inc. lifted its stake in CVB Financial by 6.1% in the first quarter. Piedmont Investment Advisors Inc. now owns 26,031 shares of the financial services provider’s stock valued at $548,000 after buying an additional 1,486 shares during the period. Institutional investors and hedge funds own 63.83% of the company’s stock.

CVB Financial Company Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.

Recommended Story: Consumer behavior in bull markets

Get a free copy of the Zacks research report on CVB Financial (CVBF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for CVB Financial (NASDAQ:CVBF)

Receive News & Ratings for CVB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVB Financial and related companies with MarketBeat.com's FREE daily email newsletter.